MP govt to take loan of Rs 4,300 crore for Rakhi gift under Laadli Behna Yojana

The Dr Mohan Yadav-led Madhya Pradesh BJP Government is all set to take a loan of Rs 4,300 crore from open market by the end of July.

According to sources, the loan will be utilized, among other things, for the payment of the additional Rs 250 each as Rakhi gift to the 1.27 crore beneficiary women of the Laadli Behna Yojana. CM Dr Yadav had announced earlier this month that the Laadli Behnas would get the gift, along with the regular monthly payment of Rs 1250, in the first week of August. As a result, each woman would get Rs 1500 in August.

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The state government will take the loan in two installments of Rs 2,000 crore and Rs 2,300 crore, respectively. The first installments will be taken for a period of 17 years, and the second will be payable after 23 years, said sources.

This will be the second time in the month of July that the state government is taking a loan from the open market. Earlier, the government had taken a loan of Rs 4800 crore on 8 July. Consequently, the total loan in the month of July would become Rs 9100 crore.

The total loan on the MP BJP government would now surpass Rs 4,40,340 crore.

The loan amount taken by the government in this financial year alone will become Rs 18600 crore.

On 7 May, the state government had taken a loan of Rs 5000 crore. Again, on 4 June, the government took a loan of Rs 4500 crore from the open market.